every body refuses the Money in general for fear the loss should fall upon him that last takes it so that the Money becomes useless having lost the currancy and quality of Money and all the murmur and disorder ensues that usually attends a Nation that want Money to drive their Trade and Commerce Other Instances might be given but this with the common usage of not exceeding Ten or Fifteen per cent when the Money is rais'd may be sufficient to answer Mr. Lock 's Objection That the Governments cannot raise their Money as high as they please nor make themselves as Rich as they please The great Objection that Mr. Lock makes against the raising the Value of Money is That if the Government have a Power to give a Value of Ten per cent to their Money why not Twenty Fifty or as high as they please And then it would be in the Government 's Power at any time to make themselves as rich as they please Such a Power at this time were to be wish'd for when the Nation is engag'd in so chargeable a War But that 's the misfortune that attends us that such a Power can be only wish'd for For tho' Princes and States have a Power to give a Value to their Money yet that Power is limited And when ever they have attempted to exceed those Limits which upon an extraordinary emergency they have sometimes done they have fallen under greater mischiefs by reason the Money has been always counterfeited than the advantages they propos'd to themselves amounted to by doing of it and have always been forc'd to call in such Money and reduce the Value within its usual limits and bounds There are two Causes why Princes and States raise the Value of their money the one is Ordinary and the other Extraordinary The Ordinary and Common Cause of Raising the Value of the Coin is the Rise of Bullion Gold and Silver are Commodities for other Uses besides the making of money as for making of Plate Lace Gilding c. And besides it 's scarcer in some Countries and more plenty in others And the Value of all things arising from their Occasions and Plenty and Scarcity making things cheap and dear when ever the Goldsmiths and the Makers of Plate Lace c. and the Merchants to export it to the Indies or those Countries where 't is more scarce will give more for Bullion to supply such occasions than the Mints can afford to do according to the Value the money is at the Princes and States have been forced from time to time to raise the Value of their Coin to prevent it from being melted down and carried away The knowledge when Bullion is risen above the Value of the money is discover'd by the Mints For the Mints are the common Shops and Market place for the Merchants to carry in their Bullion And when ever they forbear the bringing of it thither it is certain it will yield them a better price in another place For Bullion never continues long in a place unalter'd because it yields no profit while it continues so But if it be carried to the Mint to be Coin'd it becomes useful for Trade and Commerce and saves the charge of borrowing money or else may be put out to Interest And if it be wrought into Plate Lace c. it pays for the fashion and workmanship And if it be transported to the Indies or some Country where it 's dearer it produces profit by the exchange of those Goods that are bought with it When ever any of the Princes and States in Europe Raise the Value of their Coin the rest generally follow It were too long to give particular Instances but if it be examin'd by the Records of the Mints of the Kings of France with those of the Mints of the Kings of England it will appear that they have Rais'd their Money from time to time as the Kings of England have done or rather higher For that since the time of St. Lewis who was co-temporary with Edward the IIId the Sols and Crowns contained then near six times more of fine Silver than the Sols and French Crowns do that are lately Coin'd which is a greater proportion than the Money has Risen in England since Edward the Third's Time being not quite four times lighter The reason is it 's almost a hundred years since the English have Raised the Value of their Silver Coin and in the same time the French have Rais'd theirs twice which would have made the English Money much of the same Rise with giving of allowance to the custom of the English who have always undervalued their Silver Money and overvalued their Gold in respect to their Neighbour Nations and have since twice Rais'd the value of their Gold to wit in King Iames the First 's time who Coin'd a twenty-Shilling-piece of Gold lighter by Two shillings than that which he Coin'd in the beginning of his Reign which rais'd the value of his first Iacobus's to Two and Twenty Shillings And in King Charles the Second's time who Coin'd the Guinea Two shillings lighter han the Broad-Piece So that when the Guinea was currant at Twenty shillings the Broad-Piece went for Two and Twenty There seems to be an absolute necessity for the Princes aud States of Europe to Raise the value of their Money much about the same time or else they cannot preserve it in their Countries notwithstanding any severe Laws to prohibit the Melting and Exporting of it For there being a constant Commerce and Traffick betwixt all the Countries of Europe If one Prince sets a much higher value on his Money than another the Merchants whose business it is to observe where they can get most profit will melt down the Coin of one Countrey and carry it to the Mint of another Countrey where the Money is Rais'd and will yield the greatest price This will appear plain by an Instance here in England For the Kings of England having not Rais'd their Silver Money since the Reign of Queen Elizabeth which is about a hundred years ago and the rest of the Princes and States of Europe having since that time twice rais'd their several Coins to wit in the Reign of King Iames the First and about Four or Five years since That although there has been since that time Coin'd in England with allowance of what was Coin'd in Queen Elizabeth's Reign the Sum of 19429061 l. 19 s. 6 d. as appears by the Records of the Mint yet by the Computation that Mr. Lownds makes there is not above Five Millions Six hundred thousand pounds remaining which in my opinion is more than will be found to be upon the new Coinage of the Money by the calculation he makes from the Worn and Clipp'd Money So that there has been near Fourteen Millions melted down and carried away within this space of time And had it not been for some accidental causes that brought Bullion to the Mint since the Foreign Princes have rais'd
and afterwards bought perhaps by a Hundred persons and paid for by the Copper Money of the Countrey And there are but few Bargains that can be made without the use of some Copper Money to make the Sum even All Sums here in England between Sixpence and Twelvepence are made up with Farthings and Halfpence This shews Mr. Lock 's mistake where he says That 't is by the Quantity of Silver men give or take or contract for that they Estimate the Value of other things and satisfy for them c. For the Baker the Grocer the Coffee-man and all the Retailers sell great quantities of Goods for the Copper Money wherein there is not one grain of Silver and yet they are as well paid and satisfied for their Goods with such Money as the Farmer or Merchant of whom they first bought those Goods are with the Silver Money For the Copper Money may be Coin'd as near to the Value of the Copper as the Silver or Gold Money may be to the Value of the Silver or Gold and the Authority of the Government that makes them all current being the same all sorts of Money must be of an equal Value according to what they are Stamp'd at For the nature of the Metals can make no difference if the Values be equal That being done only by proportioning the quantities of the Metals in each piece of Money to their different Values For instance supposing Copper to be at Twelvepence a pound and Silver to be at Three pound per pound an Ounce of Silver which is Five Shillings is equal to Five pound of Copper And there being Threescore pence in Five Shillings and Threescore Ounces in Five pound an Ounce of Copper being a piece of money about the bigness of a Crown in Silver is equal to the value of a Penny in Silver and an Half-penny being half an Ounce and of the size of Half-acrown is equal to an Half-penny in Silver If it had been the Quantity of Silver that Men take and contract for Men would have made their Bargains by the weight of Silver and not by the tale of money For Silver is as well divided for Traffick by weight as money is divided by number and there would be no occasion for Coining For it is as easy in making of a Bargain when the Question is ask'd What shall I give or what will you take for such and such Commodities to say I will give or take so many Grains Penny-weight Ounces or Pounds of Silver as to say that I 'll give or take so many Pounds Shillings Pence or Half-pence But Silver being a Commodity for other Uses besides the making of money and according to the Plenty or Scarcity to supply those Occasions is dearer or cheaper therefore money was invented which by Publick Authority sets and fixeth a certain value to each piece of money and it is that which men give and take by tale and number of the pieces in exchange for all other Commodities without regarding the weight and quantity of Silver in each piece And if a man should offer to buy Goods in the Market by saying I 'll give so many Grains Ounces or Pounds of Silver he would be presently ask'd What is Silver worth an Ounce and would be no more understood by Mr. Lock 's answer That an Ounce of Silver is worth an Ounce of Silver than if a Country-man in a market being ask'd What is Corn worth a Bushel should say 'T is worth a Bushel of Corn. And yet if Mr. Lock 's definition of money be true That it differs from uncoin'd Silver only in this That the Quantity of Silver in each piece of money is ascertain'd by the Stamp it bears which is set there to be a Publick Voucher of its weight and fineness there can be no other Answer given to know the value of Silver by For if the Stamp to a Crown-piece which is an Ounce of Silver be set only to describe its weight and fineness if any man be ask'd the Question What Silver is worth he can mean no more when he says 'T is worth a Crown an Ounce than that an Ounce of Silver is worth an Ounce of Silver so that by his description of money no man can describe the value of Silver But that Mr. Lock is mistaken in his definition of money will appear more plainly by discoursing of the Par of the several Coins He says That the Par of Monies is certain number of pieces of the Coin of one Country containing an equal Quantity of Silver in another number of pieces of the Coin of another Country This is a general Opinion and therefore it is no wonder to find it here asserted by a Gentleman who I suppose is only acquainted with the Speculation and Theory of Foreign Coins when many Merchants and Traders whose business it has been to know the practick part and the difference of the value of the several Coins are of the same Opinion And yet if it be but consider'd it will be found to be a vulgar Error and that the Par of money is made by computing the Valuation that the several Governments set on their Coins which is not from the equal Quantity of Silver in each piece of money For there is scarce two Mints that agree in the Standards of their Coin The Standard of Spain is Eleven Ounces Four-penny weight fine in a Pound Troy Mexico Eleven Ounces Three-penny weight Ten Grains England Eleven Ounces Two-penny weight France Ten Ounces Ten-penny weight Holland Nine Ounces And the same difference might be observ'd in all the other Mints of Europe Besides The Pound Troy is divided into a number of pieces differing in their weight and that no two Mints divide their money alike That in most pieces of money the very Grains of Silver are divided in some a tenth thirteenth fifteenth twentieth part of a Grain and more and that there is scarce any one piece of money without Fractions of Grains of Silver so that in those very Coins that are nearest in value by computation it will be found altogether impracticable for any Merchant to keep an account of the Par of the several Coins by the quantity of Silver in each piece of money It would puzzle a good Arithmetician to state the difference of the Grains of Silver in those pieces that seem most to agree as to Instance It is no easy matter to number the difference of Grains betwixt those Pieces of Eight that of Mexico and Spain with the Pound Troy being both divided into thirteen pieces and an half It is much more difficult to examine the difference of the grains of silver in such pieces as the Sixpence of England the Riall of Spain the Shilling of Holland with other Coins about that value But if the difference of the Grains with the innumerable Fractions of Grains be examin'd in the Stivers of the Low-Countries the Souz of France the Crutizes of Germany with the Silver Pence of England and
continuance but has Coin'd their Money lighter then they did at the first beginning of their Coinage The way of raising the Value of the Money is not in all Countries alike In the Vnited Provinces Flanders Germany and the Northern parts of Europe it has been usually by putting in a greater Allay and making of it a little courser and a little lighter The Standard of the Vnited States was at first Nine Ounces and an half fine Silver and Two and an half Allay in the pound Troy But since by degrees their Standard has been brought to Nine Ounces fine and Three Ounces Allay And likewise their new Dollars have been Coined lighter so that the old Dollars that went before at Six and thirty Stivers were rais'd to Forty And the same might be observ'd in all the rest of the Mints of Flanders Germany and the Northern parts In Italy France and England the way of raising their Coin has been generally by keeping the old Standard for fineness and only by altering the weight from time to time Coining their New Money lighter as they had occasion to raise the Value of their Money In Portugal and Spain the usual method of raising their Money has not been by altering their Standard either in fineness or weight but by giving a Rise to their Money by a Computation made from the Value of the Copper Money that is a Riall of Eight which in Spain was formerly of the Value of Three hundred and seventy Malvedies was raised to pass currant for Four hundred Malvedies which is their Copper Money and so higher from time to time And the same is to be observ'd in Portugal They raise the Value of their Money by their Reas which is their Copper Money And the Ducat or Crusado that us'd to pass for Four hundred Reas has been rais'd to Four hundred and fifty and higher The usual Proportion of Value that Princes and States give to their Silver and Gold Money when they Raise the Value of them is generally betwixt Ten and Fifteen per cent above the Market-price of Silver and Gold The French Crown was Raised from Sixty Sous to Sixty five which is about Ten percent And about three or four Years since the Crown was Raised to Seventy two Sous which is near Fifteen per cent The Rix-Dollar Coin'd at Fifty Stivers was Raised to Fifty five Stivers and since to Sixty which is about Ten per cent The Kings of England have Rais'd their Money from Twenty to Twenty five Thirty Thirty seven c. whch is after the same proportion as the Emperor the French King and other Princes and States have done The Dutch raise the Value of their Money by adding a greater Allay as has been observ'd which is less taken notice of and so does not disturb the minds of those persons who think the value of Money is solely from the quantity of fine Silver in each piece The Reason why Princes and States do observe to give no greater Proportion of Value to their Money when they new raise it than betwixt Ten and Fifteen per cent above the currant price of Bullion is to prevent counterfeiting For tho' there are Laws in all Countries with severe Penalties to prohibit the counterfeiting of Money yet none are kept and observed where there is great Profit to be got by breaking of them And no persons will counterfeit the Stamp and make the Money the same both in weight and fineness for only Ten or Fifteen per cent Profit For they must Coin a great quantity to make their Profit considerable if they make the Money of the same weight and fineness it will not be One hundred and forty pound clear Profit in Coining of a Thousand pound at Fifteen per cent because of the charge of Coinage And none but the rich man can vent a great quantity and he 'll not hazard the loss of his Life and Estate for such small Gain The poor man cannot attempt it because he can neither get Bullion to Coin nor vent a quantity after 't is Coin'd And why should any man venture his Life for such small Profit when every Merchant and Tradesman gets more without any such hazard Therefore those that coin false Money counterfeit the Metal as well as the Stamp to make it profitable But then it is much easier discovered and they are often punish'd with death For they must counterfeit the weight colour and size of the Piece as well as the Stamp which is much more difficult than only to counterfeit the Stamp So that the Princes and States may as safely coin their Money Ten or Fifteen per cent above the price of Bullion without danger of counterfeiting as if they should coin it exactly to the Market-price The Reason why the Princes and States when they have rais'd the Value of their Money have not coin'd it nearer to the price of Bullion than about the difference of Ten per cent is to avoid the too often raising the Value of their Coin which when ever it is done is apt to create some little murmur and discontent amongst the People And if they should coin it near the Value they would be forced to raise their Money as oft as Silver rises in its price above the Value of the Coin which would be every Five or Ten Year whereas by raising of it betwixt Ten of Fifteen per cent they have not usually rais'd it but once in Fifty or Threescore Years As to instance from Edward the Third's time to Queen Elizabeth which was betwixt Two hundred and fifty and Three hundred Years from the first raising of the Money from Twenty pence in an Ounce of Silver to Threescore pence is betwixt Ten or Twelve per cent for every Fifty Years And the like might be observ'd if it were necessary in all the Mints of Europe In the Reign of Edward VI. when there was so great an Allay put into the Money as rais'd it to Forty or Fifty per cent profit above the price of Silver there were Barrels of counterfeit Money seiz'd at the Custom-house that were sent from Foreign parts The knowledge of that created so great a jealousy and disturbance in the minds of the People that scarce any Money would pass for fear of receiving that which was counterfeit For the knowledge of the goodness of Silver is a Mystery that few are acquainted with and when there is so great an Allay put into the Money those that counterfeit may make the Metal as good if not better than the true Money because there 's profit sufficient by only counterfeiting the Stamp And that may be so well imitated as not one in a thousand may discover the difference betwixt the true and the false Stamp And tho' the Metal may be as good or better than the true Money yet it being counterfeited it 's none of the Government 's Money And wanting their Authority by which it is made currant no man is oblig'd to take it and therefore
the value of their Coins there had been very little Silver Money Coin'd and much less to be found now in England For in King Charles the First 's time by the Civil Wars of England the Plate was brought to the Mints to be Coin'd which was the cause of the great sum of Silver Money Coin'd in his Reign The Calling in the Parliament-Money in King Charles the Second's time and new Coining of it The Two or Three hundred thousand pounds that were yearly sent into England from France upon some particular occasions during his Reign with the Money that Dunkirk was sold for And the Act of Parliament for giving away the charge of Coinage to incourage the Merchants to bring Bullion to the Mint being almost Three and an Half per cent were the occasion of the Silver money Coin'd in his Reign And if the two Sums Coined in these two Kings Reigns which make about Twelve Millions with the Money that was Coin'd in Queen Elizabeth's Reign and a Million that was Coin'd in the Reign of King Iames the First before the Foreign Princes Rais'd the value of their Coins be put together they will make near eighteen Millions So that were it not for these accidental Causes there had not been Coin'd in the Mint of England Two Millions of Silver Money since the Foreign Princes Rais'd the Value of their Coins And had it not been for the wearing of some of the old Money lighter by often telling it over and Clipping of the rest by which they were made unprofitable to melt down by this time in all probability there had scarce been a Silver piece of Money to be seen in England And that the Raising the Coin in Foreign parts and the not Raising the Silver Coin in England was the cause of melting it down and Transporting it will plainly appear from the plenty of the Gold here compared with the Silver For since the Forty third of Queen Elizabeth being the last time that the Silver Money was rais'd here in England the Gold has been twice greatly rais'd by which means there is here double if not treble the quantity of Gold for Silver whereas in all other Kingdoms and States in Europe there is ten times more Silver Money than Gold For in the Forty third Year of Queen Elizabeth according to Mr. Lownds's account from the Records of the Mint which all men agree is very exact a pound weight Troy of Gold of the Standard of Twenty two Carats fine and Two Carats Allay was Coin'd into Thirty three Soveraigns and an half at Twenty shillings a piece making Thirty three pounds ten shillings In the Reign of King Iames I. the Gold was rais'd and the same pound weight and standard of Gold was coin'd into as many Units Double-Corowns and other pieces of Gold as made up Forty pound eighteen shillings and four pence And in King Charles the Second's time the Gold was again rais'd and the same standard and weight was coin'd into Forty four Guineas and an half at Twenty shillings a piece So that from Thirty three pound ten shillings in Queen Elizabeth's time to Forty four pound ten shillings in King Charles's Reign the Gold was rais'd near Three and thirty per cent since the Silver money has been rais'd which is the reason of the great plenty of Gold and scarcity of Silver What was the reason that these two Princes rais'd their Gold and not their Silver is not to be imagin'd unless it was from some powerful Argument offer'd by the Guiney Company whose Interest it is to have Gold rais'd which does not appear And that this raising the Gold is the cause that it is more plentiful here in England than Silver will appear yet more plain if the Records of the Mint be examin'd since King Charles the Second's Restauration For since that time there has been coin'd in the Mint of England 7263836 l. 1 s. 5 d. and in Silver but 4319585 l. 9 s. 5 d. which does not want much of double the quantity of Gold Money that has been coin'd more than Silver And when the Guineas had an extraordinary Rise here in England as to be currant at Eight and twenty and Thirty shillings a piece there was above Seven hundred and twenty thousand pounds in Gold coin'd in little more than Nine months time which was more than was coin'd in six or eight Years before which shews plainly that the raising the Value of the Gold money here in England is the cause that so much is imported and coin'd here And on the contrary the not raising of the Silver money in proportion as the Foreign Mints have done is the cause of its being consâ—â—ntly melted down and carried away notwithstanding the many Laws to prohibit it For there are severe Laws in all Kingdoms and States that prohibit the counterfeiting clipping melting and exporting the money In all Countries 't is death to counterfeit and clip the money In France England and several other Countries it is a high Crime to melt it down and forfeiture of the money to export it and in Spain 't is death to transport it And yet when ever it has been profitable it has been always melted down and carried away So that by experience Princes and States have found that there is no other way to preserve it in the Country but by raising the Value of their money so much above the price of Bullion that the Merchant may get more by carrying away the Bullion than the Money The cause of raising the Money here in Europe will always continue as long as the Europeans continue in Traffick and Commerce for Trade makes a People rich and Gold and Silver are Badges of Riches and therefore as the People grow rich the price of Gold and Silver will rise because the occasions for Gold and Silver will still increase Especially as long as the Trade continues to the Mogul's Country in the East-Indies For the Princes and great People there believe that the possession of Gold and Silver is not only an Honour to them while they are alive but that they shall have a Respect in the next World according to the quantity of Gold and Silver they die possess'd of And therefore what-ever Gold and Silver they get more than is absolutely necessary for Commerce and Traffick they from time to time melt into a Mass or Tank which is buried with them so that great part of what 's dug out of the West is buried in the East And altho' there have been great quantities of Gold and Silver brought into Europe since the Discovery of the West-Indies yet the price of them has always risen and will always continue so as long as the People grow rich by Trade which will make the occasions for them greater than the quantity which is the Rule by which all things are made dear This continual Rise of Gold and Silver will be no prejudice to the Princes and States if they do but observe to
raise and keep up their money above the price of Silver and Gold for there will be the same quantity of Silver and Gold in the Country tho' the money be lighter And the difference will be only that there will be more in every man's House and less in his Pocket And the money will have the same Value tho' the impressions be less because it has its Value from the Authority of the Government Just as if the Ingraver should cut the impression of the Great Seal less it would not alter the Authority of the Seal This may be sufficient to prove That the Ordinary Cause of Raising the Value of the Money is from the Rise of Bullion which will always continue in Europe as long as the Inhabitants grow rich by Trade The Extraordinary Cause of raising the Value of money has been the Extraordinary Occasion for it When Princes and States have been engag'd in great Wars and wanting money they have sometimes rais'd the Value of it to increase it and make it last longer In such Cases they have not observ'd the usual Bounds and Limits of raising the Value of money Ten or Fifteen per cent above the Market price of Bullion but have greatly exceeded it to Thirty Forty Fifty per cent and more But then in all such Cases as soon as those extraordinary occasions were over they have call'd in such money as has been so greatly rais'd and reduc'd the Value of it to its usual Bounds In the first Punick War the Romans wanting money rais'd the Value of the As which was their Brass Coin to six times more in Vâ—lue than it was coin'd at it weighing at first twelve Ounces and afterwards but two And again wanting money Hannibal pressing hard upon the City they increased their money by coining the As to an Ounce And the third time Papirius raised the money to double its Value by coining it at half an Ounce They also rais'd their Denarius which was their Silver money in proportion By which they carried on the War against the Carthagenians and suppli'd themselves under great Necessities and want of money Livius Dâ—usus also greatly rais'd the Value of the Silver money by putting in a great Allay But these excessive Rises were afterwards regulated and reduc'd by Marius Gratidianus In the Wars betwixt England and France Harry the Fifth having conquer'd great part of France Charles the Seventh rais'd the Value of the French money in six Years time from Eight Livres Nine Sols the Mark by degrees to Three hundred and sixty Livres the Mark which was rais'd in that time above Forty times the Value And as those that write of the Mints of France observe 't was the chief means by which he expell'd the English out of France But as soon as ever the War was over he reduc'd the money to Seven Livres Ten Sols which was within the usual Limits of raising the money At the same time Harry the Fifth raised the money of England from Twenty five shillings in a Pound weight to Thirty And Harry the Sixth his Son the next Year rais'd it to Thirty seven and six-pence so that it was rais'd a third part more in Value in two Years time than it had been ever since the Twenty seventh of Edward the Third And in the Fourth Year of Harry the Sixth after Charles the Seventh had reduc'd his money he lower'd the English money again to 30 s. When Harry the Eighth alter'd the Standard of England and extraordinarily rais'd the Value of the money by putting in a great Allay which alteration at first was by putting in but two Ounces Allay to ten Ounces of fine Silver afterwards six Ounces and at last eight Ounces Allay to four Ounces of fine Silver By which in three Years time he rais'd the Value of the money above three times higher than it was before but it was when he had spent his money in the War of Bullen And the Nation was never at peace and quiet in their Commerce and Traffick till the Value of the money was reduc'd within its Bounds which was begun by Edward the Sixth and finish'd by Q. Elizabeth These are the Extraordinary Causes of raising the Value of money to supply Extraordinary Necessities which have no sooner been over but the Value of the money has been reduc'd within its usual Limits For if the Rise had been continued the Mischiefs would have been greater than the Advantages they receiv'd by raising it so high And there can be no Rule or Measure taken of the Value that the money may be rais'd to from such Presidents but only from the ill effects in continuing it The Effects of Raising the Value of the Money are That it increases the species of the Money and preserves it in the Countrey where 't is Coin'd If the English Crown were Rais'd to Six shillings or Coin'd in such a proportion lighter there will be a Sixth part more Money in England than if it be Coin'd to the old Standard And if the Money be Rais'd above the price of Bullion it will not be the Interest of Goldsmiths and Merchants to melt it down From both which Effects a Nation receives great Advantage Mr. Lock is of a contrary opinion and thinks that the Raising of the Money will produce Two great Mischiefs viz. That the Raising the Value of the Money will Raise the Value of all Commodities That the Landlords and Creditors will lose just so much in their Rents Bonds Debts and Contracts as the Money is Rais'd These are the Two great Objections that are commonly us'd in all Debates about Raising the Value of the Money and are grounded upon this supposition That the Value of the Money is solely from the quantity of Silver in each piece and that 't is the quantity of Silver that in Buying and Selling Men give take and contract for So that if there be less Silver in the Money men will have less Goods for it and just so much as the Money is Rais'd in Value the Goods will Rise And the same Consequence will be if the Landlords did let their Land according to the quantity of Silver in the Money they will lose just so much Rent if the Money be Rais'd as it has less Silver in it And so will the Creditors in their Bonds Debts and Contracts But if it appear by what has been said on this Subject and that Mr. Lock is mistaken in his supposition That the Money has its Value from the Authority of that Government where it is Coin'd by which it is made Current and Lawful Money And that 't is the Current and Lawful Money of England that men contract and sell their Goods for and in their Bonds and Leases Covenant to pay Then there will be no such ill effects from Raising of the Old Money and Coining the New Lighter And if it be true That the Plenty or Scarcity of all Commodities in respect to their occasion makes them Cheaper or Dearer And that